Cryptocurrency Market Update
Bitcoin (BTC), the original and most valuable digital currency globally, Cryptocurrency And Bitcoin Price Today Jan 29 rebounded above the $42,000 threshold during the weekend following a concerning decline the previous week. Other prominent cryptocurrencies such as Ethereum (ETH), Dogecoin (DOGE), Solana (SOL), Ripple (XRP), and Litecoin (LTC) experienced a mixed pattern of minor gains and losses. Notably, Conflux (CFX) emerged as the top performer with a significant 24-hour surge of over 10%, while Chiliz (CHZ) suffered the most, witnessing a dip of over 5%.
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At the time of reporting, the total global crypto market capitalization stood at $1.63 trillion, with a slight 0.15% decline over the past 24 hours.
Bitcoin (BTC) Price Analysis
The price of Bitcoin stood at $42,273.97, reflecting a 0.24% decrease over the last 24 hours, as reported by CoinMarketCap. Indian exchange WazirX recorded BTC’s price at Rs 37.26 lakh.
Ethereum (ETH) Price Analysis : Cryptocurrency And Bitcoin Price Today Jan 29
Ethereum’s price was noted at $2,269.01, indicating a 0.82% decline within 24 hours. In India, WazirX reported Ethereum’s price at Rs 2 lakh.
Dogecoin (DOGE) Price Analysis
Dogecoin experienced a 2.33% loss, with its price currently standing at $0.07904 according to CoinMarketCap. WazirX recorded DOGE’s price in India at Rs 6.95.
Litecoin (LTC) Price Analysis
Litecoin saw a modest 0.25% decrease, trading at $68.01, with its price in India recorded at Rs 5,957.57.
Ripple (XRP) Price Analysis
The price of XRP was $0.5284, marking a 0.80% decrease over the last 24 hours. WazirX reported Ripple’s price in India at Rs 46.80.
Solana (SOL) Price Analysis
Solana’s price stood at $97.58, showing a 0.53% gain within 24 hours, with its Indian price recorded at Rs 8,438 by WazirX.
Top Crypto Performers and Underperformers (January 29)
According to CoinMarketCap, the top five crypto gainers in the past day were Conflux (CFX), Injective (INJ), Polkadot (DOT), Flare (FLR), and Celestia (TIA). Conversely, the top five losers included Chiliz (CHZ), Akash Network (AKT), Beam (BEAM), BitTorrent (New) (BTT), and Blur (BLUR).
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Insights from Crypto Exchanges on the Current Market Situation
Various experts provided insights on the current crypto market scenario:
- Mudrex co-founder and CEO Edul Patel highlighted Bitcoin’s surge, suggesting potential further gains if key resistance levels are surpassed.
- Parth Chaturvedi, Investments Lead at CoinSwitch Ventures, noted BTC’s recent price action and the ongoing anticipation regarding spot BTC ETFs.
- Rajagopal Menon, Vice President at WazirX, discussed Bitcoin’s resilience and Ethereum’s potential rebound, considering geopolitical tensions and upcoming events.
- Sathvik Vishwanath, CEO and co-founder of Unocoin, discussed Bitcoin’s recent price movement, emphasizing market sentiment and key levels for Bitcoin and Ethereum.
- CoinDCX Research Team analyzed BTC and ETH’s recent performance, highlighting key support and resistance levels.
Disclaimer: Cryptocurrency investments carry inherent risks, and readers are advised to exercise caution and seek professional advice before making any investment decisions. The market predictions provided are speculative and subject to change
